Mayville Engineering (MEC) 10-Q 18 Jun 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Jun. 17, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	Mayville Engineering Company, Inc.
Entity Central Index Key	0001766368
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Trading Symbol	MEC
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		19,845,693

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 28	$ 3,089
Receivables, net of allowances for doubtful accounts of $759 as of March 31, 2019 and $801 as of December 31, 2018	67,759	52,298
Inventories, net	53,480	53,405
Tooling in progress	2,672	2,318
Prepaid expenses and other current assets	2,563	1,649
Total current assets	126,502	112,759
Property, plant and equipment, net	125,577	123,883
Goodwill	70,534	69,437
Intangible assets-net	80,203	82,879
Capital lease, net	1,880	1,953
Other long-term assets	762	814
Total assets	405,459	391,725
LIABILITIES AND TEMPORARY EQUITY
Accounts payable	50,327	45,992
Current portion of capital lease obligation	275	281
Current portion of long-term debt	10,549	8,606
Accrued liabilities:
Salaries, wages, and payroll taxes	7,894	7,548
Profit sharing and bonus	3,563	6,124
Other current liabilities	14,840	14,610
Total current liabilities	87,449	83,161
Bank revolving credit notes	66,389	59,629
Capital lease obligation, less current maturities	1,630	1,697
Other long-term debt, less current maturities	109,669	111,675
Deferred compensation and long-term incentive, less current portion	14,498	13,351
Deferred income taxes	20,275	19,123
Other long-term liabilities	100	100
Total liabilities	300,010	288,736
Commitments and contingencies (see Note 9)
Redeemable common shares, no par value, stated at redemption value of outstanding shares, 60,045,300 authorized, 38,623,806 shares issued at March 31, 2019 and December 31, 2018	133,806	133,806
Retained earnings	29,301	26,842
Treasury stock at cost, 25,180,330 shares at March 31, 2019 and December 31, 2018	(57,659)	(57,659)
Total temporary equity	105,449	102,989
Total liabilities and temporary equity	$ 405,459	$ 391,725

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) $ in Thousands	May 13, 2019shares	Mar. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares
Receivables, net of allowances for doubtful accounts | $		$ 759	$ 801
Redeemable common shares par value | $ / shares		$ 0	$ 0
Redeemable common shares authorized		60,045,300	60,045,300
Redeemable common shares issued		38,623,806	38,623,806
Treasury stock at cost		25,180,330	25,180,330
IPO [Member]
Common Stock, Shares Authorized		45,000	45,000
Common Stock, Shares, Issued		28,946	28,946
Treasury Stock, Shares		18,871	18,871
May 2019 IPO [Member] | Subsequent Event [Member]
Dividend stock split conversion ratio	1,334.34

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 143,732	$ 87,221
Cost of sales	124,153	75,411
Amortization of intangibles	2,677	939
Profit sharing, bonuses, and deferred compensation	1,750	1,640
Employee Stock Ownership Plan expense	1,500	1,000
Other selling, general and administrative expenses	7,599	2,875
Income from operations	6,054	5,356
Interest expense	(2,832)	(906)
Other income	7	8
Income before taxes	3,229	4,458
Income tax expense	769	29
Net income and comprehensive income	2,459	4,430
Earnings per share – basic and diluted
Net income available to shareholders	$ 2,459	$ 4,430
Earnings per share	$ 0.18	$ 0.31
Weighted average shares outstanding	13,443,484	14,117,317
Tax-adjusted pro forma information
Net income available to shareholders	$ 2,459	$ 4,430
Pro forma provision for income taxes	70	1,130
Pro forma net income	$ 2,389	$ 3,300
Pro forma earnings per share	$ 0.18	$ 0.23
Weighted average shares outstanding	13,443,484	14,117,317

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical)	May 13, 2019	Mar. 31, 2019
Effective income tax rate reconciliation		26.00%
May 2019 IPO [Member] | Subsequent Event [Member]
Dividend stock split conversion ratio	1,334.34

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,459	$ 4,430
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	7,650	4,992
Costs recognized on step-up of acquired inventory	395
Expense recognized on contingent consideration fair value adjustment	869
Gain on sale of property, plant and equipment	(10)
Deferred compensation and long-term incentive	1,147	666
Non-cash adjustments	54	63
Changes in operating assets and liabilities – net of effects of acquisition:
Accounts receivable	(15,419)	(7,552)
Inventories	(470)	(2,837)
Tooling in progress	(354)	129
Prepaids and other current assets	(914)	(608)
Accounts payable	5,892	3,795
Accrued liabilities, excluding long-term incentive	(2,799)	(1,405)
Net cash (used in) provided by operating activities	(1,500)	1,673
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(8,151)	(2,488)
Proceeds from sale of property, plant and equipment	9
Net cash used in investing activities	(8,142)	(2,488)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank revolving credit notes	117,666	38,951
Payments on bank revolving credit notes	(110,906)	(36,195)
Proceeds from issuance of other long-term debt
Repayments of other long-term debt	(107)	(1,983)
Payments on capital leases	(73)
Net cash provided by financing activities	6,580	773
Net (decrease) in cash and cash equivalents	(3,061)	(42)
Cash and cash equivalents at beginning of period	3,089	76
Cash and cash equivalents at end of period	28	34
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 2,966	$ 992

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Redeemable Common Shares, Treasury Stock and Retained Earnings - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Beginning, Balance	$ 102,989
Net income	2,459	$ 4,430
Ending, Balance	105,449
Redeemable Common Shares
Beginning, Balance	133,806	125,042
Net income	0	0
Ending, Balance	133,806	125,042
Treasury Stock
Beginning, Balance	(57,659)	(49,826)
Net income	0	0
Ending, Balance	(57,659)	(49,826)
Retained Earnings
Beginning, Balance	26,842	17,671
Net income	2,459	4,430
Ending, Balance	$ 29,301	$ 22,101

Basis of presentation

Basis of presentation	3 Months Ended
	Mar. 31, 2019
Basis of Presentation [Abstract]
Business Description and Basis of Presentation [Text Block]	Note 1. Basis of presentation The interim consolidated unaudited financial statements of Mayville Engineering Company, Inc. and subsidiaries (MEC, the Company, we, our, us or similar terms) presented here have been prepared in accordance with the accounting principles generally accepted in the United States of America (GAAP) and with instructions to Form 10-Q and Article 10 of Regulation S-X. They reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the results and position for the interim unaudited periods presented. All intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2018, included in the Company’s Prospectus. A summary of the Company’s significant accounting policies is included in the Company’s 2018 financial statements in the Prospectus. The Company followed these policies in preparation of the interim unaudited condensed consolidated financial statements. Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) statements. In February 2016, the FASB issued ASU 2016-02, Leases , creating Topic 842, which requires lessees to record the assets and liabilities arising from all leases in the statement of financial position. Under ASU 2016-02, lessees will recognize a liability for lease payments and a right-of-use asset. When measuring assets and liabilities, a lessee should include amounts related to option terms, such as the option of extending or terminating the lease or purchasing the underlying asset, that are reasonably certain to be exercised. For leases with a term of 12 months or less, lessees are permitted to make an accounting policy election to not recognize lease assets and liabilities. This guidance retains the distinction between finance leases and operating leases and the classification criteria remains similar. For financing leases, a lessee will recognize the interest on a lease liability separate from amortization of the right-of-use asset. In addition, repayments of principal will be presented within financing activities, and interest payments will be presented within operating activities in the statement of cash flows. For operating leases, a lessee will recognize a single lease cost on a straight-line basis and classify all cash payments within operating activities in the statement of cash flows. For public companies, this guidance will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. , the new guidance is effective for annual reporting periods beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is evaluating the potential impact of this guidance on the consolidated financial statements. A summary of the Company’s evaluation of other recent accounting pronouncements included in the Company’s 2018 financial statements in the Prospectus.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 2. Acquisitions On December 14, 2018, the The Company acquired DMP for $114,700, net of cash received plus contingent consideration of up to $10,000. The Company will pay DMP’s previous shareholders $7,500 if DMP generates $19,748 of earnings before interest expense, income taxes, depreciation and amortization (EBITDA) over the twelve month period ended September 30, 2019. In addition, the Company will pay one dollar for each additional dollar of EBITDA in excess of $19,748 generated over this period; however, in no event shall the total payment exceed $10,000. The aggregate purchase price has been allocated to the assets acquired and liabilities assumed based on their fair values as of the acquisition date. The excess purchase price over the estimated fair value of net tangible assets acquired was allocated to identifiable intangible assets and goodwill. The Company engaged a reputable independent third party to assist with the identification and valuation of the intangible assets. Management made significant estimates and assumptions when determining the fair value of assets acquired and liabilities assumed. These estimates include, but are not limited to, discount rates, projected future net sales, projected future expected cash flows, useful lives, attrition rates, royalty rates, and growth rates. These measures are based on significant Level 3 inputs not observable in the market. T he preliminary estimated fair values of assets acquired and liabilities assumed are as follows: Preliminary Opening Cash consideration, net of cash received $ 114,700 Contingent consideration 6,075 Total purchase price $ 120,775 Accounts receivable, net $ 26,900 Tooling in progress 1,318 Inventory, net 11,729 Property, plant and equipment, net 30,053 Other assets, net of cash 416 Intangible assets Trade name 14,780 Customer relationships 44,550 Non-compete 8,800 Goodwill 30,332 Total assets acquired 168 878 Deferred income taxes 20,220 Other liabilities 27,883 Net assets acquired $ 120,775 In connection with the DMP acquisition, inventory was valued at its estimated fair value which is defined as expected sales price less costs to sell. The valuation resulted in an inventory fair value step-up of $978. This amount is amortized based on inventory turns, with the amortization resulting in a reduction of inventory and an expense reflected in cost of sales on the Consolidated Statement of Comprehensive Income. For the three months ended March 31, 2019 and the year ended December 31, 2018, the Company amortized $395 and $583 of the inventory fair value step-up, respectively. The inventory fair value step-up is fully amortized as of March 31, 2019. The Company recorded $14,780 of trade name intangible assets with an estimated useful life of 10 12 5 Consolidated Statement of Comprehensive Income. The Company also estimated and recorded the fair value of the contingent consideration payable of $6,075 as of the acquisition date. The Company remeasures this liability utilizing a Monte Carlo valuation model through the conclusion of the earnout period, September 30, 2019, $6,924 and $6,054 as of March 31, 2019 and December 31, 2018, respectively. The change of $869 between the balances for the periods ended March 31, 2019 and December 31, 2018 is recorded within the line item other selling, general, and administrative expenses on the Company’s Condensed Consolidated Statement of Comprehensive Income for the three months ended March 31, 2019. The purchase price of DMP exceeded the preliminary estimated fair value of identifiable net assets and accordingly, the difference was allocated to goodwill, which is not tax deductible. The Company believes that the information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the purchase price allocations are preliminary. The Company is in the process of finalizing the net working capital true-up in conjunction with the fair value estimates for assets acquired, liabilities assumed, identifiable intangible assets, and the income tax provision. The Company has recorded preliminary estimates for certain of the items noted above and will record adjustments, if any, to the preliminary amounts upon finalization of the respective valuations. Such changes are not expected to be significant. The Company expects to complete the purchase price allocation as soon as practicable but no later than one year from the applicable acquisition date. The DMP acquired entities accounted for $50.2 million and $0.8 million Pro Forma Financial Information (Unaudited): The unaudited pro forma results of operations do not reflect any operating efficiencies or potential cost savings which may result from the acquisition. Three Months Ended March 31, 2018 Net sales $ 128,274 Net income 4,496

Select balance sheet data

Select balance sheet data	3 Months Ended
	Mar. 31, 2019
Select balance sheet data [Abstract]
Supplemental Balance Sheet Disclosures [Text Block]	Note 3. Select balance sheet data Inventory Inventories as of March 31, 2019 and December 31, 2018 consist of : March 31, December 31, 2019 2018 Finished goods and purchased parts $ 32,040 $ 32,589 Raw materials 13,664 12,329 Work-in-process 7,776 8,487 Total $ 53,480 $ 53,405 The change in inventory from $53,405 as of December 31, 2018 to $53,480 as of March 31, 2019 includes a $395 reduction related to the amortization of the DMP inventory fair value step-up. The DMP inventory fair value step-up is fully amortized as of March 31, 2019. Property, plant and equipment Property, plant and equipment as of March 31, 2019 and December 31, 2018 consist of : Useful Lives March 31, December 31, Years* 2019 2018 Land Indefinite $ 1,264 $ 1,264 Land improvements 15 39 3,169 3,169 Building and building improvements 15 39 56,233 55,269 Machinery, equipment and tooling 3 7 187,220 182,045 Vehicles 5 3,627 3,613 Office furniture and fixtures 3 7 14,379 14,253 Construction in progress N/A 7,102 6,786 Total property, plant and equipment, gross 272,994 266,399 Less accumulated depreciation 147,417 142,516 Total property, plant and equipment, net $ 125,577 $ 123,883 Goodwill Changes in goodwill between December 31, 2018 and March 31, 2019 consist of : Balance as of December 31, 2018 $ 69,437 Purchase accounting adjustment 1,097 Impairment — Balance as of March 31, 2019 $ 70 534 Intangible Assets The following is a listing of intangible assets, the useful lives in years (amortization period) and accumulated amortization as of March 31, 2019 and December 31, 2018: Useful Lives March 31, December 31, Years 2019 2018 Amortizable intangible assets: Customer relationships and contracts 9 12 $ 78,340 $ 78,340 Trade name 10 14,780 14,780 Non-compete agreements 5 8,800 8,800 Patents 19 24 24 Accumulated amortization (25,552 ) (22,876 ) Total amortizable intangible assets, net 76,392 79,068 Non-amortizable brand name 3,811 3,811 Total intangible assets, net $ 80,203 $ 82,879 Non-amortizable brand name is tested annually for impairment. Changes in intangible assets between December 31, 2018 and March 31, 2019 consist of: Balance as of December 31, 2018 $ 82,879 Amortization expense (2,677 ) Balance as of March 31, 2019 $ 80,203 Amortization expense was $2.7 million and $0.9 million for the three months ended March 31, 2019 and 2018, respectively.

Bank revolving credit notes

Bank revolving credit notes	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Disclosure of Line of Credit Facilities [Text Block]	Note 4. Bank revolving credit notes The Company maintains a Credit Agreement providing for $ 90 was 4.75% and 4.69% as of March 31, 2019 and December 31, 2018, respectively. Additionally, the agreement has a fee on the average daily unused portion of the aggregate unused revolving commitments. This fee was 0.20% as of March 31, 2019 and December 31, 2018. The Company was in compliance with all financial covenants of the credit agreements as of March 31, 2019 and December 31, 2018. The amount borrowed on the revolving credit notes was $ 66,389 59,629

Other long-term debt

Other long-term debt	3 Months Ended
	Mar. 31, 2019
Other longterm debt [Abstract]
Debt Disclosure [Text Block]	Note 5. Other long-term debt The Company maintains a facility financing package with borrowings of $95,000 and a maturity date of December 14, 2023, and a strategic capital loan with borrowings of $25,000 and a maturity date of June 14, 2024. Government loan balances include forgiveness clauses based upon capital spending and headcount increases at the noted manufacturing locations. Other long-term debt as of March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 December 31, 2018 Interest Rate Balance Interest Rate Balance Term A loans – 2018 financing package 4.75 % $ 69,000 4.69 % $ 69,000 Real estate term loan – 2018 financing package 4.75 % 26,000 4.69 % 26,000 Strategic capital loan 11.59 % 25,000 11.78 % 25,000 Wisconsin Economic Development Corporate (Neillsville) 2.00 % 299 2.00 % 406 Smyth County, Virginia 0.00 % 700 0.00 % 700 Total principal outstanding 120,999 121,106 Less: Unamortized debt issuance costs (781 ) (825 ) Less: Current maturities (10,549 ) (8,606 ) Long-term debt, less current maturities, net $ 109,669 $ 111,675 Scheduled principal payment of debt subsequent to March 31, 2019 are as follows: Year ending December 31, 2019 (remainder) $ 8,499 2020 8,200 2021 8,200 2022 8,200 2023 62,900 Thereafter 25,000 Total $ 120,999 The Company was in compliance with all financial covenants of its long term debt agreements as of March 31, 2019.

Capital lease obligation

Capital lease obligation	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Capital Leases in Financial Statements of Lessee Disclosure [Text Block]	Note 6. Capital lease obligation Capital leases consist of equipment with a capitalized cost of $2,051 and accumulated depreciation of $171 at March 31, 2019. Depreciation of $73 was recognized on the capital lease assets during Year ending December 31, 2019 (remainder) $ 262 2020 335 2021 335 2022 335 2023 335 Thereafter 559 Total 2,161 Less payment amount allocated to interest 256 Present value of capital lease obligation $ 1,905 Current portion of capital lease obligation 275 Long-term portion of capital lease obligation 1,630 Total capital lease obligation $ 1,905

Employee stock ownership plan

Employee stock ownership plan	3 Months Ended
	Mar. 31, 2019
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 7. Employee stock ownership plan Under the Mayville Engineering Company, Inc. Employee Stock Ownership Plan (ESOP), the Company makes annual contributions to the trust for the benefit of eligible employees in the form of cash or treasury shares of the Company. The annual contribution is discretionary except that it must be at least 3% of to $1,500 and $1,000, respectively. At various times following death, disability, retirement or termination of employment, an ESOP participant is entitled to receive their ESOP account balance in accordance with various distribution methods as permitted under the policies adopted by the ESOP. Historically, all distributions have been paid to participants in cash. During the three months ended March 31, 2019 the ESOP did not acquire any shares from withdrawing participants. As of March 31, 2019, and December 31, 2018, the ESOP shares consisted of 13,443,484 $133,806 as of March 31, 2019 and December 31, 2018. The estimated fair value as of March 31, 2019 and December 31, 2018 was based on the most recent available appraisals of the common stock which $9.95

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note 8. Income taxes On a quarterly basis, the Company estimates its effective tax rate for the full fiscal year and records a quarterly income tax provision based on the anticipated rate. As the year progresses, the Company will refine its estimate based on facts and circumstances by each tax jurisdiction. Income tax expense was estimated at $769 and the effective tax rate (ETR) from continuing operations was 30.35% for the three months ended March 31, 2019. The following item caused the quarterly ETR to be significantly different from our expected annual ETR at statutory tax rates: • During the three months ended March 31, 2019, we recorded a discrete tax expense of approximately $84 as a result of a greater state tax expense than was originally estimated in our tax provision for our year ended December 31, 2018. This increased the effective tax rate by 3.71% for the quarter ended March 31, 2019. The acquired DMP entities are subject to taxation in the United States and five state jurisdictions. The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in these jurisdictions. ASC Topic 740, Income Taxes March 31, 2019. Prior to the Company’s IPO, the Company’s legacy business was an S Corporation, where substantially all taxes were passed to the shareholders and the Company did not pay federal or state corporate income taxes on its taxable income. In connection with the IPO, the Company’s legacy business converted to a C Corporation. As a result, the consolidated business will be subject to paying federal and state corporate income taxes on its taxable income from May 12, 2019 forward. The Company’s policy for recording interest and penalties associated with potential income tax audits is to record such expense as a component of income tax expense. There were no amounts for penalties or interest recorded as of March 31, 2019. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its positions.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies Disclosure [Text Block]	Note 9. Contingencies From time to time, the Company may be involved in various claims and lawsuits, both for and against the Company, arising in the normal course of business. Although the results of litigation and claims cannot be predicted with certainty, in management’s opinion, either the likelihood of loss is remote, or any reasonably possible loss associated with the resolution of such proceedings is not expected to have a material adverse impact on the consolidated financial statements.

Deferred compensation

Deferred compensation	3 Months Ended
	Mar. 31, 2019
Deferred Compensation Liability [Abstract]
Compensation Related Costs, General [Text Block]	Note 10. Deferred compensation The Mayville Engineering Deferred Compensation Plan is available for certain employees designated to be eligible to participate by the Company and approved by the Board of Directors. Eligible employees may elect to defer a portion of his or her compensation for any plan year and the deferral cannot exceed 50% of the participant’s base salary and may include the participant’s annual short-term cash incentive up to 100%. The participant’s election must be made prior to the first day of the plan year. An employer contribution will be made for each participant to reflect the amount of any reduced allocations to the ESOP and/or 401(k) employer contributions due solely to the participant’s deferral amounts, as applicable. In addition, a discretionary amount may be awarded to a participant by the Company. All deferrals are deemed to have been invested in the Company stock at a price equal to the share value on the date of deferral and the value of the account will increase or decrease with the change in the value of the stock. Individual accounts are maintained for each participant. Each participant’s account is credited with the participant’s deferred compensation, the Company’s contributions, and investment income or loss, reduced for charges, if any. The deferred compensation plan provides benefits payable upon separation of service or death. Payments are to be made 30 days after date of separation from service, either in a lump-sum payment or up to five annual installments as elected by the participant when the participant first elects to defer compensation. The deferred compensation plan is non-funded and all future contributions are unsecured in that the employees have the status of a general unsecured creditor of the Company and the agreements constitute a promise by the Company to make benefit payments in the future. During the three months ended March 31, 2019 and 2018, eligible employees elected to defer compensation of $1,147 and $1,485, respectively. As of March 31, 2019, and December 31, 2018, the total amount accrued for all benefit years under this plan was $14,498 and $13,351, respectively, which is included within the deferred compensation and long-term incentive on the consolidated balance sheets. These amounts include the initial deferral of compensation as adjusted for subsequent changes in the share value of the Company stock. Total expense for the deferred compensation plan for the three months ended March 31, 2019 and 2018 amounted to $1,147 and $1,485 and is included in profit sharing, bonuses and deferred compensation on the

Long-Term incentive plan

Long-Term incentive plan	3 Months Ended
	Mar. 31, 2019
Share-based Compensation [Abstract]
Long Term Incentive Plans For Employees [Text Block]	Note 11. Long-Term incentive plan The Company’s Long-Term Incentive Plan is available for any employee who has been designated to be eligible to participate by the Compensation Committee of the Board of Directors. Annually, the plan provides for long-term cash incentive awards to eligible participants based on the Company’s performance over a three-year performance period. The long-term incentive plan is non-funded and each participant in the plan is considered a general unsecured creditor of the Company and each agreement constitutes a promise by the Company to make benefit payments if the future conditions are met, or if the discretion is exercised in favor of a benefit payment. The qualifying conditions for each award granted prior to December 31, 2015 under the plan include a minimum increase in the aggregate fair value of the Company of 24% during the three-year performance period and the eligible participants must be employed by the Company on the date of the cash payment or have retired after attaining age 65, died or become disabled during the period from the beginning of the performance period to the date of payment. As of January 1, 2016, all new awards granted under the plan include a minimum increase in the aggregate fair value of the Company of 12% during the three-year performance period. If the qualifying conditions are not attained, discretionary payments may be made, up to a maximum amount specified in each award agreement. Discretionary payments are determined by the Compensation Committee of the Board of Directors (for payment to the Chief Executive Officer of the Company) and by the If a participant is not employed throughout the performance period due to retirement, death or disability, their maximum benefit will be prorated based on the number of days employed by the Company during the performance periods. Based on the requirements of this plan, no awards were paid during the three months ended March 31, 2019 and 2018. $1,846 $79 and $111, respectively, and is included in profit sharing, bonuses and deferred compensation on the Condensed Consolidated Statements of Comprehensive Income.

Self-Funded insurance

Self-Funded insurance	3 Months Ended
	Mar. 31, 2019
Insurance [Abstract]
Self Funded Medical Insurance Plan [Text Block]	Note 12. Self-Funded insurance The Company is self-funded for the medical benefits provided to its employees and their dependents. Healthcare costs are expensed as incurred and are based upon actual claims paid, reinsurance premiums, administration fees, and estimated unpaid claims. The Company purchases reinsurance to limit the annual risk associated with their multiple medical plans. Under one plan, the Company purchases reinsurance to limit the annual risk per participant to $225 with no aggregate stop loss. Under another plan, the Company purchases reinsurance to limit the annual risk per participant to $200 and to limit the annual aggregate risk related to this contract which was approximately $5,163 and $4,467 for the three months ended March 31, 2019 and 2018, respectively. An estimated accrued liability of approximately $1,553 and $1,514 was recorded as of March 31, 2019 and December 31, 2018, respectively, for estimated unpaid claims and is included within other current liabilities on the

Segments

Segments	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 13. Segments The Company applies the provisions of ASC Topic 280, Segment Reporting . An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the chief operating decision maker (CODM) and for which discrete financial information is available. Based on the provisions of ASC 280, the Company has determined it has one operating segment. The Company does not earn revenues or have long-lived asset located in foreign countries. In accordance with the enterprise-wide disclosure requirements of ASC 280, the Company’s net sales from external customers by main product lines are as follows: Three Months Ended March 31, 2019 2018 Outdoor sports $ 1,859 $ 1,752 Fabrication 91,153 35,725 Performance structures 19,807 22,808 Tube 20,857 19,570 Tank 11,605 8,729 Total 145,281 88,584 Intercompany sales elimination (1,549 ) (1,363 ) Total, net sales $ 143,732 $ 87,221

Fair value of financial instrum

Fair value of financial instruments	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 14. Fair value of financial instruments Fair value provides information on what the Company may realize if certain assets were sold or might pay to transfer certain liabilities based upon an exit price. Financial assets and liabilities that are measured and reported at fair value are classified into a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities or (iii) information derived from or corroborated by observable market data. • Level 3 – Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be the Company’s own data and judgements about assumptions that market participants would use in pricing the asset or liability. The following table lists the Company’s financial assets and liabilities accounted for at fair value by the fair value hierarchy: Fair Value Measurements at Balance at Report Date Using March 31, 2019 (Level 1) (Level 2) (Level 3) Deferred compensation $ 14,498 $ — $ — $ 14,498 Contingent consideration payable 6,924 — — 6,924 Total $ 21,422 $ — $ — $ 21,422 Fair Value Measurements at Balance at Report Date Using December 31, 2018 (Level 1) (Level 2) (Level 3) Deferred compensation $ 13,351 $ — $ — $ 13,351 Contingent consideration payable 6,054 — — 6,054 Total $ 19,405 $ — $ — $ 19,405 Changes in liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) between December 31, 2018 and March 31, 2019 consist of: Balance as of December 31, 2018 $ 19,405 Contingent consideration fair value adjustment 869 Deferred compensation contributions 1,043 Deferred compensation fair value adjustment 180 Payments (75 ) Balance as of March 31, 2019 $ 21,422 Fair value measurements for the Company’s cash and cash equivalents are classified based upon Level 1 measurements because such measurements are based upon quoted market prices in active markets for identical assets. Accounts receivable, accounts payable, long-term debt and accrued liabilities are recorded in the financial statements at cost and approximate fair value. Deferred compensation liabilities are recorded at amounts due to participants at the time of deferral. Deferrals are deemed to have been invested in the Company stock at a price equal to the share value on the deferral date. Subsequent fair value adjustments are made to the participants’ accounts for the change in the value of the Company’s stock on an annual basis. Considered Level 3 on the fair value On December 14, 2018 The Company will pay DMP’s previous shareholders an additional $7,500 if DMP generates $19,748 of EBITDA over the twelve-month period ended September 30, 2019. In addition, the Company will pay one dollar for each additional dollar of EBITDA in excess of $19,748 generated over this period; however, in no event shall the total payment exceed $10,000. on the Condensed Consolidated Statement of Comprehensive Income. Contingent consideration payable was revalued to $6,924 and $6,054 as of March 31, 2019 and December 31, 2018, respectively. The change of $869 The Company does not have any financial assets or liabilities at the Level 2 fair value hierarchy. The Company’s non-financial assets such as intangible assets and property, plant, and equipment are re-measured at fair value when there is an indication of impairment and adjusted only when an impairment charge is recognized.

Concentration of major customer

Concentration of major customers	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	Note 15 – Concentration of major customers The following customers accounted for 10% or greater of the Company’s recorded net sales and net trade receivables: Net Sales Accounts Receivable Three Months Ended Three Months Ended As of As of Customers A 17.0 % 24.1 % <10 % <10 % B 14.1 % 19.0 % <10 % <10 % C <10 % 19.3 % <10 % <10 % D <10 % <10 % <10 % 12.6 % E 11.6 % <10 % <10 % <10 %

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 16. Subsequent events The On April 8, 2019 $117,100 On May 12, 2019 On May 13, 2019 1,334.34 On May 16, 2019 On May 20, 2019 On May 23, 2019, the Company completed the revaluation of its Long Term Incentive Compensation Program (LTIP) due to the IPO, resulting in a pay out of $10,483, ending the LTIP. Also due to the IPO, the deferred compensation liability was revalued resulting in an increase of $9,990 from the March 31, 2019 balance of $14,498.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	T he preliminary estimated fair values of assets acquired and liabilities assumed are as follows: Preliminary Opening Cash consideration, net of cash received $ 114,700 Contingent consideration 6,075 Total purchase price $ 120,775 Accounts receivable, net $ 26,900 Tooling in progress 1,318 Inventory, net 11,729 Property, plant and equipment, net 30,053 Other assets, net of cash 416 Intangible assets Trade name 14,780 Customer relationships 44,550 Non-compete 8,800 Goodwill 30,332 Total assets acquired 168 878 Deferred income taxes 20,220 Other liabilities 27,883 Net assets acquired $ 120,775
Business Acquisition, Pro Forma Information [Table Text Block]	The unaudited pro forma results of operations do not reflect any operating efficiencies or potential cost savings which may result from the acquisition. Three Months Ended March 31, 2018 Net sales $ 128,274 Net income 4,496

Select balance sheet data (Tabl

Select balance sheet data (Tables)	3 Months Ended
	Mar. 31, 2019
Select balance sheet data [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories as of March 31, 2019 and December 31, 2018 consist of : March 31, December 31, 2019 2018 Finished goods and purchased parts $ 32,040 $ 32,589 Raw materials 13,664 12,329 Work-in-process 7,776 8,487 Total $ 53,480 $ 53,405
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment as of March 31, 2019 and December 31, 2018 consist of : Useful Lives March 31, December 31, Years* 2019 2018 Land Indefinite $ 1,264 $ 1,264 Land improvements 15 39 3,169 3,169 Building and building improvements 15 39 56,233 55,269 Machinery, equipment and tooling 3 7 187,220 182,045 Vehicles 5 3,627 3,613 Office furniture and fixtures 3 7 14,379 14,253 Construction in progress N/A 7,102 6,786 Total property, plant and equipment, gross 272,994 266,399 Less accumulated depreciation 147,417 142,516 Total property, plant and equipment, net $ 125,577 $ 123,883
Schedule of Goodwill [Table Text Block]	Changes in goodwill between December 31, 2018 and March 31, 2019 consist of : Balance as of December 31, 2018 $ 69,437 Purchase accounting adjustment 1,097 Impairment — Balance as of March 31, 2019 $ 70 534
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The following is a listing of intangible assets, the useful lives in years (amortization period) and accumulated amortization as of March 31, 2019 and December 31, 2018: Useful Lives March 31, December 31, Years 2019 2018 Amortizable intangible assets: Customer relationships and contracts 9 12 $ 78,340 $ 78,340 Trade name 10 14,780 14,780 Non-compete agreements 5 8,800 8,800 Patents 19 24 24 Accumulated amortization (25,552 ) (22,876 ) Total amortizable intangible assets, net 76,392 79,068 Non-amortizable brand name 3,811 3,811 Total intangible assets, net $ 80,203 $ 82,879
Schedule Of Changes In Finite Lived Intangible Assets [Table Text Block]	Changes in intangible assets between December 31, 2018 and March 31, 2019 consist of: Balance as of December 31, 2018 $ 82,879 Amortization expense (2,677 ) Balance as of March 31, 2019 $ 80,203

Other long-term debt (Tables)

Other long-term debt (Tables)	3 Months Ended
	Mar. 31, 2019
Other longterm debt [Abstract]
Schedule Of Other Long Term Debt [Table Text Block]	Other long-term debt as of March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 December 31, 2018 Interest Rate Balance Interest Rate Balance Term A loans – 2018 financing package 4.75 % $ 69,000 4.69 % $ 69,000 Real estate term loan – 2018 financing package 4.75 % 26,000 4.69 % 26,000 Strategic capital loan 11.59 % 25,000 11.78 % 25,000 Wisconsin Economic Development Corporate (Neillsville) 2.00 % 299 2.00 % 406 Smyth County, Virginia 0.00 % 700 0.00 % 700 Total principal outstanding 120,999 121,106 Less: Unamortized debt issuance costs (781 ) (825 ) Less: Current maturities (10,549 ) (8,606 ) Long-term debt, less current maturities, net $ 109,669 $ 111,675
Schedule of Maturities of Long-term Debt [Table Text Block]	Scheduled principal payment of debt subsequent to March 31, 2019 are as follows: Year ending December 31, 2019 (remainder) $ 8,499 2020 8,200 2021 8,200 2022 8,200 2023 62,900 Thereafter 25,000 Total $ 120,999

Capital lease obligation (Table

Capital lease obligation (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Future minimum lease payments required under the lease is as follows: Year ending December 31, 2019 (remainder) $ 262 2020 335 2021 335 2022 335 2023 335 Thereafter 559 Total 2,161 Less payment amount allocated to interest 256 Present value of capital lease obligation $ 1,905 Current portion of capital lease obligation 275 Long-term portion of capital lease obligation 1,630 Total capital lease obligation $ 1,905

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	In accordance with the enterprise-wide disclosure requirements of ASC 280, the Company’s net sales from external customers by main product lines are as follows: Three Months Ended March 31, 2019 2018 Outdoor sports $ 1,859 $ 1,752 Fabrication 91,153 35,725 Performance structures 19,807 22,808 Tube 20,857 19,570 Tank 11,605 8,729 Total 145,281 88,584 Intercompany sales elimination (1,549 ) (1,363 ) Total, net sales $ 143,732 $ 87,221

Fair value of financial instr_2

Fair value of financial instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table lists the Company’s financial assets and liabilities accounted for at fair value by the fair value hierarchy: Fair Value Measurements at Balance at Report Date Using March 31, 2019 (Level 1) (Level 2) (Level 3) Deferred compensation $ 14,498 $ — $ — $ 14,498 Contingent consideration payable 6,924 — — 6,924 Total $ 21,422 $ — $ — $ 21,422 Fair Value Measurements at Balance at Report Date Using December 31, 2018 (Level 1) (Level 2) (Level 3) Deferred compensation $ 13,351 $ — $ — $ 13,351 Contingent consideration payable 6,054 — — 6,054 Total $ 19,405 $ — $ — $ 19,405
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Changes in liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) between December 31, 2018 and March 31, 2019 consist of: Balance as of December 31, 2018 $ 19,405 Contingent consideration fair value adjustment 869 Deferred compensation contributions 1,043 Deferred compensation fair value adjustment 180 Payments (75 ) Balance as of March 31, 2019 $ 21,422

Concentration of major custom_2

Concentration of major customers (Tables)	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	The following customers accounted for 10% or greater of the Company’s recorded net sales and net trade receivables: Net Sales Accounts Receivable Three Months Ended Three Months Ended As of As of Customers A 17.0 % 24.1 % <10 % <10 % B 14.1 % 19.0 % <10 % <10 % C <10 % 19.3 % <10 % <10 % D <10 % <10 % <10 % 12.6 % E 11.6 % <10 % <10 % <10 %

Acquisitions - Fair Values Of A

Acquisitions - Fair Values Of Assets Acquired and Liabilities (Details) - USD ($) $ in Thousands	Dec. 14, 2018	Mar. 31, 2019
Contingent consideration		$ 6,075
Defiance Metal Products [Member]
Cash consideration, net of cash received	$ 114,700	114,700
Contingent consideration	$ 10,000	6,075
Total purchase price		120,775
Accounts receivable, net		26,900
Tooling in progress		1,318
Inventory, net		11,729
Property, plant and equipment, net		30,053
Other assets, net of cash		416
Goodwill		30,332
Total assets acquired		168,878
Deferred income taxes		20,220
Other liabilities		27,883
Net assets acquired		120,775
Trade name [Member] | Defiance Metal Products [Member]
Intangible assets		14,780
Customer relationships [Member] | Defiance Metal Products [Member]
Intangible assets		44,550
Non-compete [Member] | Defiance Metal Products [Member]
Intangible assets		$ 8,800

Acquisitions - Pro forma result

Acquisitions - Pro forma results of operations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Net sales	$ 128,274
Net income	$ 4,496

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 14, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Contingent consideration payable		$ 6,075
Net sales			$ 128,274
Net income			$ 4,496
Business combination inventory fair value step-up		395		$ 978
Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability		869		$ 869
Deferred income taxes		$ 1,097
Trade Names [Member]
Estimated useful life		10 years		10 years
Noncompete Agreements [Member]
Estimated useful life		5 years		5 years
Defiance Metal Products [Member]
Cash consideration, net of cash received	$ 114,700	$ 114,700
Contingent consideration payable	$ 10,000	6,075
Net sales		50,200
Net income		$ 800
Business combination, contingent consideration arrangements, description		The Company will pay DMP's previous shareholders $7,500 if DMP generates $19,748 of earnings before interest expense, income taxes, depreciation and amortization (EBITDA) over the twelve month period ended September 30, 2019. In addition, the Company will pay one dollar for each additional dollar of EBITDA in excess of $19,748 generated over this period; however, in no event shall the total payment exceed $10,000.
Business combination inventory fair value step-up		$ 395		$ 583
Defiance Metal Products [Member] | Restatement Adjustment [Member] | Selling, General and Administrative Expenses [Member]
Contingent consideration payable		6,924		$ 6,054
Defiance Metal Products [Member] | Trade Names [Member]
Business combination, Recognized identifiable assets acquired and liabilities assumed, intangible assets, other than goodwill		$ 14,780
Estimated useful life		10 years
Defiance Metal Products [Member] | Customer Relationships [Member]
Business combination, Recognized identifiable assets acquired and liabilities assumed, intangible assets, other than goodwill		$ 44,550
Estimated useful life		12 years
Defiance Metal Products [Member] | Noncompete Agreements [Member]
Business combination, Recognized identifiable assets acquired and liabilities assumed, intangible assets, other than goodwill		$ 8,800
Estimated useful life		5 years

Select balance sheet data - Sch

Select balance sheet data - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Select balance sheet data [Abstract]
Finished goods and purchased parts	$ 32,040	$ 32,589
Raw materials	13,664	12,329
Work-in-process	7,776	8,487
Total	$ 53,480	$ 53,405

Select balance sheet data - S_2

Select balance sheet data - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Total property, plant and equipment, gross	$ 272,994	$ 266,399
Less accumulated depreciation	147,417	142,516
Total property, plant and equipment, net	125,577	123,883
Land [Member]
Total property, plant and equipment, gross	$ 1,264	$ 1,264
Property, plant and equipment useful lives	Indefinite</div>" id="sjs-B8">&lt;div style="letter-spacing: 0px; top: 0px;;display:inline;">Indefinite&lt;/div>
Land Improvements [Member]
Total property, plant and equipment, gross	$ 3,169	$ 3,169
Land Improvements [Member] | Maximum [Member]
Property, plant and equipment useful lives	39 years	39 years
Land Improvements [Member] | Minimum [Member]
Property, plant and equipment useful lives	15 years	15 years
Building Improvements [Member]
Total property, plant and equipment, gross	$ 56,233	$ 55,269
Building Improvements [Member] | Maximum [Member]
Property, plant and equipment useful lives	39 years	39 years
Building Improvements [Member] | Minimum [Member]
Property, plant and equipment useful lives	15 years	15 years
Machinery and Equipment [Member]
Total property, plant and equipment, gross	$ 187,220	$ 182,045
Machinery and Equipment [Member] | Maximum [Member]
Property, plant and equipment useful lives	7 years	7 years
Machinery and Equipment [Member] | Minimum [Member]
Property, plant and equipment useful lives	3 years	3 years
Vehicles [Member]
Total property, plant and equipment, gross	$ 3,627	$ 3,613
Property, plant and equipment useful lives	5 years	5 years
Office Equipment [Member]
Total property, plant and equipment, gross	$ 14,379	$ 14,253
Office Equipment [Member] | Maximum [Member]
Property, plant and equipment useful lives	7 years	7 years
Office Equipment [Member] | Minimum [Member]
Property, plant and equipment useful lives	3 years	3 years
Construction in Progress [Member]
Total property, plant and equipment, gross	$ 7,102	$ 6,786

Select balance sheet data - S_3

Select balance sheet data - Schedule of Changes In Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Select balance sheet data [Abstract]
Balance	$ 69,437
Purchase accounting adjustment	1,097
Impairment	0
Balance	$ 70,534

Select balance sheet data - S_4

Select balance sheet data - Schedule of Listing of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Amortizable intangible assets [Abstract]
Accumulated amortization	$ (25,552)	$ (22,876)
Total amortizable intangible assets, net	76,392	79,068
Total intangible assets, net	80,203	82,879
Customer Relationships And Contracts [Member]
Amortizable intangible assets [Abstract]
Amortizable intangible assets, gross	$ 78,340	$ 78,340
Customer Relationships And Contracts [Member] | Maximum [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	12 years	12 years
Customer Relationships And Contracts [Member] | Minimum [Member]
Amortizable intangible assets [Abstract]
Intangible assets useful Lives	9 years	9 years
Trade Names [Member]
Amortizable intangible assets [Abstract]
Amortizable intangible assets, gross	$ 14,780	$ 14,780
Intangible assets useful Lives	10 years	10 years
Noncompete Agreements [Member]
Amortizable intangible assets [Abstract]
Amortizable intangible assets, gross	$ 8,800	$ 8,800
Intangible assets useful Lives	5 years	5 years
Patents [Member]
Amortizable intangible assets [Abstract]
Amortizable intangible assets, gross	$ 24	$ 24
Intangible assets useful Lives	19 years	19 years
Brand Name [Member]
Amortizable intangible assets [Abstract]
Total intangible assets, net	$ 3,811	$ 3,811

Select balance sheet data - S_5

Select balance sheet data - Schedule of Changes In Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Select balance sheet data [Abstract]
Balance	$ 82,879
Amortization expense	(2,677)	$ (939)
Balance	$ 80,203

Select balance sheet data - Add

Select balance sheet data - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Select balance sheet data [Abstract]
Inventory	$ 53,480		$ 53,405
Amortization of the DMP inventory fair value	395		$ 978
Amortization expense	$ 2,677	$ 939

Bank revolving credit notes - A

Bank revolving credit notes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Revolving credit notes	$ 66,389	$ 59,629
Revolving Credit Facility [Member]
Credit agreement borrowing capacity	$ 90,000
Interest rate	4.75%	4.69%
Revolving commitments fee percentage	0.20%	0.20%
Revolving credit notes	$ 66,389	$ 59,629

Other long-term debt - Summary

Other long-term debt - Summary of Other Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Total principal outstanding	$ 120,999	$ 121,106
Less: Unamortized debt issuance costs	(781)	(825)
Less: Current maturities	(10,549)	(8,606)
Long-term debt, less current maturities, net	$ 109,669	$ 111,675
Smyth County, Virginia [Member]
Debt Instrument, Interest Rate, Stated Percentage	0.00%	0.00%
Total principal outstanding	$ 700	$ 700
Term A Financing Packaging [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.75%	4.69%
Total principal outstanding	$ 69,000	$ 69,000
Real Estate Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.75%	4.69%
Total principal outstanding	$ 26,000	$ 26,000
Strategic Capital [Member]
Debt Instrument, Interest Rate, Stated Percentage	11.59%	11.78%
Total principal outstanding	$ 25,000	$ 25,000
Wisconsin Economic Development Corporate [Member]
Debt Instrument, Interest Rate, Stated Percentage	2.00%	2.00%
Total principal outstanding	$ 299	$ 406

Other long-term debt - Schedule

Other long-term debt - Scheduled Principal Payment of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
2019 (remainder)	$ 8,499
2020	8,200
2021	8,200
2022	8,200
2023	62,900
Thereafter	25,000
Total	$ 120,999	$ 121,106

Other long-term debt - Addition

Other long-term debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Borrowing financing package	$ 120,999	$ 121,106
Facility Financing Package [Member]
Borrowing financing package	$ 95,000
Maturity date	Dec. 14, 2023
Strategic Capital Loan [Member]
Borrowing financing package	$ 25,000
Maturity date	Jun. 14, 2024

Capital lease obligation - Sche

Capital lease obligation - Schedule of Future Minimum Lease Payments Required Under The Lease (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
2019 (remainder)	$ 262
2020	335
2021	335
2022	335
2023	335
Thereafter	559
Total	2,161
Less payment amount allocated to interest	256
Present value of capital lease obligation	1,905
Current portion of capital lease obligation	275	$ 281
Long-term portion of capital lease obligation	1,630	$ 1,697
Total capital lease obligation	$ 1,905

Capital lease obligation - Addi

Capital lease obligation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Capital Lease Obligations	$ 1,905
Equipment [Member]
Capitalized cost	2,051
Capital lease, accumulated depreciation	171
Capital lease, depreciation recognized	$ 73
Capital Lease Obligations		$ 0

Employee stock ownership plan -

Employee stock ownership plan - Additional Information (Detail) $ / shares in Units, $ in Thousands	May 13, 2019	Mar. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)$ / sharesshares
Employee stock ownership plan (ESOP), compensation expense		$ 1,500	$ 1,000
Annual contribution vesting percentage		3.00%
Repurchase obligation estimated fair value on allocated shares		$ 133,806		$ 133,806
Shares in ESOP | shares		13,443,484		13,443,484
Estimated fair value of common stock on ESOP | $ / shares		$ 9.95		$ 9.95
May 2019 IPO [Member] | Subsequent Event [Member]
Dividend stock split conversion ratio	1,334.34
Employee Stock Option [Member]
Employee stock ownership plan (ESOP), compensation expense		$ 1,500	$ 1,000

Income taxes - Additional Infor

Income taxes - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Income Tax Expense	$ 769
Effective Income Tax Rate	30.35%
Discrete Tax Expense	$ 84
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate	3.71%

Deferred compensation - Additio

Deferred compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Annual Short term Cash Incentive	100.00%
Description Of Deferred Compensation Arrangements	The deferred compensation plan provides benefits payable upon separation of service or death. Payments are to be made 30 days after date of separation from service, either in a lump-sum payment or up to five annual installments as elected by the participant when the participant first elects to defer compensation.
Deferred compensation and long-term incentive	$ 1,750	$ 1,640
Deferred Profit Sharing [Member]
Deferred compensation and long-term incentive	1,147	1,485
Deferred Compensation Cash-based Arrangements Liability	$ 14,498	$ 13,351
Maximum [Member]
Deferred Compensation Arrangements	50.00%

Long-Term incentive plan - Addi

Long-Term incentive plan - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2018
Description Of Conditions In Respect of Long Term Cash Incentives to eligible Participants	The Company's Long-Term Incentive Plan is available for any employee who has been designated to be eligible to participate by the Compensation Committee of the Board of Directors. Annually, the plan provides for long-term cash incentive awards to eligible participants based on the Company's performance over a three-year performance period.
Profit sharing, bonuses, and deferred compensation	$ 1,750	$ 1,640
Deferred Bonus [Member]
Other Deferred Compensation Arrangement Liability	562				$ 1,846
Profit sharing, bonuses, and deferred compensation	$ 79	$ 111
Chief Executive Officer [Member]
Increase In Fair Value Of Long Term Incentive Plan			12.00%	24.00%
Long Term Incentive Plan			3 years	3 years

Self-Funded insurance - Additio

Self-Funded insurance - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Adjustment Expense	$ 1,553	$ 1,514
Net Amount at Risk by Product and Guarantee	5,163		$ 4,467
Medical Insurance Plan One [Member]
Liability for Future Policy Benefits	225
Medical Insurance Plan Two [Member]
Liability for Future Policy Benefits	$ 200

Segments - Schedule of Company'

Segments - Schedule of Company's Net Sales From External Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 143,732	$ 87,221
Sales
Revenues	145,281	88,584
Outdoor Sports
Revenues	1,859	1,752
Fabrication
Revenues	91,153	35,725
Performance structures
Revenues	19,807	22,808
Tube
Revenues	20,857	19,570
Tank
Revenues	11,605	8,729
Intercompany sales elimination
Revenues	$ (1,549)	$ (1,363)

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Company's Financial Assets and Liabilities (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Total	$ 21,422	$ 19,405
Contingent consideration payable
Total	6,924	6,054
Deferred compensation
Total	14,498	13,351
Fair Value, Inputs, Level 1 [Member]
Total	0	0
Fair Value, Inputs, Level 1 [Member] | Contingent consideration payable
Total	0	0
Fair Value, Inputs, Level 1 [Member] | Deferred compensation
Total	0	0
Fair Value, Inputs, Level 2 [Member]
Total	0	0
Fair Value, Inputs, Level 2 [Member] | Contingent consideration payable
Total	0	0
Fair Value, Inputs, Level 2 [Member] | Deferred compensation
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Total	21,422	19,405
Fair Value, Inputs, Level 3 [Member] | Contingent consideration payable
Total	6,924	6,054
Fair Value, Inputs, Level 3 [Member] | Deferred compensation
Total	$ 14,498	$ 13,351

Fair value of financial instr_4

Fair value of financial instruments - Schedule of Changes In Liabilities Measured At Fair Value On A Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Balance as of December 31, 2018	$ 19,405
Contingent consideration fair value adjustment	869
Deferred compensation contributions	1,043
Deferred compensation fair value adjustment	180
Payments	(75)
Balance as of March 31, 2019	$ 21,422

Fair value of financial instr_5

Fair value of financial instruments - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 14, 2018	Mar. 31, 2019	Dec. 31, 2018
Contingent consideration		$ 6,075
Expense recognized on contingent consideration fair value adjustment		869	$ 869
Defiance Metal Products [Member]
Business Acquisition, Effective Date			Dec. 14, 2018
Cash consideration, net of cash received	$ 114,700	114,700
Contingent consideration	$ 10,000	$ 6,075
Contingent Consideration Arrangements, Description		The Company will pay DMP's previous shareholders $7,500 if DMP generates $19,748 of earnings before interest expense, income taxes, depreciation and amortization (EBITDA) over the twelve month period ended September 30, 2019. In addition, the Company will pay one dollar for each additional dollar of EBITDA in excess of $19,748 generated over this period; however, in no event shall the total payment exceed $10,000.
Defiance Metal Products [Member] | Restatement Adjustment [Member] | Selling, General and Administrative Expenses [Member]
Contingent consideration		$ 6,924	$ 6,054

Concentration of major custom_3

Concentration of major customers - Net Sales and Net Trade Receivables (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Customer A [Member] | Sales Revenue, Net [Member]
Concentration risk percentage	17.00%	24.10%
Customer A [Member] | Accounts Receivable [Member]
Concentration risk percentage	<10		<10
Customer B [Member] | Sales Revenue, Net [Member]
Concentration risk percentage	14.10%	19.00%
Customer B [Member] | Accounts Receivable [Member]
Concentration risk percentage	<10		<10
Customer C [Member] | Sales Revenue, Net [Member]
Concentration risk percentage		19.30%
Concentration risk percentage	<10
Customer C [Member] | Accounts Receivable [Member]
Concentration risk percentage	<10		<10
Customer D [Member] | Sales Revenue, Net [Member]
Concentration risk percentage	<10	<10
Customer D [Member] | Accounts Receivable [Member]
Concentration risk percentage			12.60%
Concentration risk percentage	<10
Customer E [Member] | Sales Revenue, Net [Member]
Concentration risk percentage	11.60%
Concentration risk percentage		<10
Customer E [Member] | Accounts Receivable [Member]
Concentration risk percentage	<10		<10

Concentration of major custom_4

Concentration of major customers - Addtional Information (Details)	3 Months Ended
	Mar. 31, 2019
Customer Concentration Risk [Member]
Concentration risk percentage	10.00%

Subsequent events - Additional

Subsequent events - Additional Information (Detail) $ / shares in Units, $ in Thousands	May 20, 2019USD ($)shares	May 13, 2019USD ($)shares	May 13, 2019shares	Apr. 08, 2019USD ($)	May 23, 2019USD ($)	Mar. 31, 2019USD ($)	May 16, 2019$ / sharesshares
IPO [Member]
Deferred compensation liability increase						$ 9,990
Subsequent Event [Member]
Proceeds from initial public offering		$ 99,344
Repayment of strategic capital loan		$ 25,000
Conversion of stock shares converted | shares		10,075
Conversion of Stock, Shares Issued | shares		13,443,484
Stock issued | shares		6,250,000
Shares outstanding | shares		19,693,484	19,693,484
Subsequent Event [Member] | Long Term Incentive Compensation Program [Member]
Payment of initial public offering cost					$ 10,483
Subsequent Event [Member] | Underwriter [Member]
Underwriters right to purchase common stock purchase price | $ / shares							$ 17
Proceeds from issue of common stock	$ 2,400
Underwriters right to purchase common stock | shares	152,209
Subsequent Event [Member] | Term A Loans Principal Balance [Member]
Repayment of strategic capital loan		$ 43,000
Subsequent Event [Member] | IPO [Member]
Deferred compensation liability increase					$ 14,498
Subsequent Event [Member] | IPO [Member] | Underwriter [Member]
Underwriters right to purchase common stock | shares							152,209
Subsequent Event [Member] | May 2019 IPO [Member]
Dividend stock split conversion ratio			1,334.34
Subsequent Event [Member] | Dmp Acquisition [Member]
Business acquisition total cash consideration				$ 117,100
Business acquisition additional payout				$ 2,400